United Kingdom GDP Annual Growth Rate

The Gross Domestic Product (GDP) in the United Kingdom expanded 2.70 percent in the fourth quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in the United Kingdom is reported by the Office for National Statistics. GDP Annual Growth Rate in the United Kingdom averaged 2.53 Percent from 1956 until 2013, reaching an all time high of 10.20 Percent in the first quarter of 1973 and a record low of -6.80 Percent in the first quarter of 2009. From 1993 to 2007 the United Kingdom has reported an average annual rate of growth of 3.3 percent. Yet, since the recession in 2008 and 2009 the growth has been sluggish and in the last three years averaged meager 0.9 percent. This page provides - United Kingdom GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-20

Actual Previous Highest Lowest Forecast Dates Unit Frequency
2.70 1.80 10.20 -6.80 1.87 | 2014/03 1956 - 2013 Percent Quarterly

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United Kingdom GDP Annual Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-12-20 09:30 AM United Kingdom
GDP Growth Rate YoY - Final
Q3 2013 1.9% 2.0% (R) 1.5% 1.5%
2014-01-28 09:30 AM United Kingdom
GDP Growth Rate YoY Prel
Q4 2013 2.8% 1.9% 2.8% 2%
2014-02-26 09:30 AM United Kingdom
GDP Growth Rate YoY - 2 Est
Q4 2013 2.7% 1.9% 2.8% 2.8%
2014-03-28 09:30 AM United Kingdom
GDP Growth Rate YoY Final
Q4 2013 2.7% 1.8% (R) 2.7% 2.7%
2014-04-29 09:30 AM United Kingdom
GDP Growth Rate YoY Prel
Q1 2014 2.7% 1.87%
2014-05-22 09:30 AM United Kingdom
GDP Growth Rate YoY - 2 Est
Q1 2014 2.7%
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GDP Last Previous Highest Lowest Forecast Unit
GDP per capita 37849.57 2012-12-31 38032.40 40027.05 13478.93 37707.81 2013-12-31 USD [+]
GDP per capita PPP 32722.52 2012-12-31 32880.58 34605.04 17907.45 32605.82 2013-12-31 USD [+]
GDP Growth Rate 0.70 2013-12-31 0.80 5.30 -2.50 0.92 2014-03-31 Percent [+]
GDP Annual Growth Rate 2.70 2013-12-31 1.80 10.20 -6.80 1.87 2014-03-31 Percent [+]
GDP Constant Prices 387138.00 2013-11-15 384996.00 392786.00 88041.00 389288.92 2014-03-31 GBP Million [+]
Gross Fixed Capital Formation 55896.00 2013-11-15 54709.00 70435.00 10182.00 56518.49 2014-03-31 GBP Million [+]
Gross National Product 400795.00 2013-11-15 398055.00 409331.00 4776.00 404888.51 2014-03-31 GBP Million [+]
GDP 2440.00 2012-12-31 2431.59 2810.97 72.33 2471.88 2013-12-31 USD Billion [+]
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UK Economy Advances 1.7% in 2013

The UK GDP expanded at its fastest pace in three years in 2013. Final estimates showed the economy advanced 1.7 percent, compared with a meager 0.3 percent expansion in 2012. Between Q4 2012 and Q4 2013, the GDP increased by 2.7 percent, unrevised from the previous estimate.

The final figure for 2013 was revised down 0.1 percentage points from the previously estimated 1.8 percent increase.

Annually, between 2012 and 2013 household final consumption expenditure increased by 2.2 percent, and has been revised down by 0.2 percentage points since the previous estimate. This remains the highest annual growth rate since 2007. Government final consumption expenditure increased by 0.7 percent, revised down 0.2 percentage points from the previous estimate.

Non-profit institutions serving households final consumption expenditure increased by 3.2 percent and gross fixed capital formation fell by 0.6 percent, a downward revision of 0.1 percentage points from the previous estimate. 

The deficit in the trade balance was £ 20.0 billion in 2013. Between 2012 and 2013 exports increased by 1.0 percent and imports by 0.5 percent.

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
3/28/2014 11:32:45 AM

RECENT RELEASES

UK GDP Growth Revised to 2.7% YoY in Q4
In the fourth quarter of 2013, UK's economy expanded 2.7 percent over a year earlier, revised down 0.1 percentage points from the previously estimated 2.8 percent increase. For full 2013, the economy advanced 1.8 percent, revised down 0.1 percentage points from the previously estimated 1.9 percent increase. Published on 2014-02-26

UK GDP Advances 2.8% YoY in Q4 2013
Preliminary estimates showed the UK's economy advanced 2.8 percent yoy in the last quarter of 2013, up from 1.9 percent in the previous period. It is the highest growth rate since the first three months of 2008. Published on 2014-01-28


GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


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